Business and Economics - General Knowledge Questions

1 .
If the Cash-Reserve Ratio is lowered by the RBI, what will be its impact on credit creation?
A)
Will have no impact
B)
Will get decreased
C)
Will get increased
D)
None of the above impacts

Correct Answer :   Will get increased

2 .
The WTO was founded in Geneva in which year?
A)
1st January, 1994
B)
1st January, 1995
C)
1st January, 1996
D)
1st January, 1997

Correct Answer :   1st January, 1995

3 .
The term Operation Twist is related to
A)
Renewable energy
B)
Debt Restructuring
C)
Currency Crisis
D)
Quantitative Easing

Correct Answer :   Quantitative Easing

4 .
What effect will a decrease in demand and an increase in supply have on equilibrium price?
A)
Equilibrium price will fall
B)
Equilibrium price will rise
C)
Equilibrium price will be constant
D)
Sometimes price will rise and sometimes it will fall

Correct Answer :   Equilibrium price will fall

5 .
The prices, at which Government purchases of food grains for maintaining the public distribution system and for building up buffer stocks, are known as
A)
Minimum Support Prices
B)
Procurement Prices
C)
Ceiling Prices
D)
Issue Prices

Correct Answer :   Procurement Prices

6 .
What kind of unemployment is found in the agriculture sector of India?
A)
Situational
B)
Frictional
C)
Disguise
D)
Voluntary

Correct Answer :   Disguise

7 .
Form 16A, a TDS certificate, is not issued to
A)
Fees for technical services
B)
Salaried employees
C)
Winners of lottery tickets
D)
Payments on account of repurchase of mutual funds units

Correct Answer :   Salaried employees

8 .
Which of the following is a correct statement
A)
The desire for a commodity backed by ability and willingness to pay is demanded
B)
When income increases demand for essential good increase, more than proportionately
C)
The demand for a commodity is inversely related to the price of its substitutes.
D)
Decrease in input prices causes a left word shift in the supply curve

Correct Answer :   The desire for a commodity backed by ability and willingness to pay is demanded

9 .
In oligopoly market kinked demand curve explains
A)
Short run average cost curve
B)
Long run average cost curve
C)
Average variable cost curve
D)
Collusion among rival firms

Correct Answer :   Collusion among rival firms

10 .
An example of derived demand is
A)
Car
B)
Money
C)
Cigarette
D)
Mobile Phone

Correct Answer :   Money

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